Singapore's EDBI invests in US-based satellite imaging firm

Singapore

PLANET, a US-based satellite imaging company that operates the world's largest fleet of earth observation satellites, has bagged an undisclosed Series D investment from EDBI, the investment arm of the Singapore Economic Development Board.

The investment - EDBI's first in spacetech - brings Planet's total fundraise to over US$400 million. EDBI is Planet's first Singapore-based investor, and the funds will be used for the firm's Asia expansion and for growing its sales, marketing and product team, co-founder and chief strategy officer Robbie Schingler told The Business Times.